A startup specializing in the technology behind bitcoin just made a deal with 3 huge firms

NEW YORK (Reuters) - Digital Asset Holdings LLC, a start-up specializing in the blockchain technology for the financial services industry, announced on Wednesday that it has entered into business relationships with Accenture, Broadridge and PricewaterhouseCoopers to ensure faster adoption of its product.

"These alliances will accelerate innovation, drive growth and broaden our reach in different segments across the world," said Blythe Masters, chief executive officer at Digital Asset holdings and a former JP Morgan investment banker.

The blockchain, the underlying technology behind bitcoin, is a digital tool for recording and verifying transactions. The technology makes it easier to create cost-efficient business networks without requiring central control.

The partnerships show how the financial services industry is exploring the potential of the blockchain. In 2015, there was an explosion of interest in the bitcoin technology as a way to solve inefficiencies in financial markets.

The blockchain is also referred to as a distributed ledger. Digital Asset Holdings, in its statement, referred to itself as a provider of distributed ledger technology.